ADNOC offers spot crude in 8th tender issued since June, sources say
SINGAPORE: The Abu Dhabi National Oil Company (ADNOC) is offering spot crude in a tender, its eighth issued since the start of June as the UAE state oil company works to move oil from inside the Strait of Hormuz, trade sources said. ADNOC on Monday offered Upper Zakum, Umm Lulu and Das crude for loading in October and November. Bids are due by August 13 and will remain valid until August 14. The…
ADNOC, the Abu Dhabi National Oil Company, has issued its eighth spot crude tender since June, offering Upper Zakum, Umm Lulu, and Das crude for loading in October and November. Bids are due by August 13 and remain valid until August 14. The three crude grades, produced from fields within the Gulf, are exported through the Strait of Hormuz.
ADNOC did not include Murban crude in this tender, with buyers able to purchase on a free-on-board basis at UAE’s Fujairah Storage, Zirku, or Das Island. Alternative arrangements include ship-to-ship transfers at the Fujairah-Sohar range or in Malaysia. Since the start of June, ADNOC has sold at least 94 million barrels of crude to refiners and traders using a shuttle fleet service to move crude out of the Gulf and onto other tankers in the Gulf of Oman.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
